Paksoy has advised Turkiye Sinai Kalkinma Bankasi on a USD 177 million syndicated loan from a syndicate of twelve banks from various countries.

The authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, has been given from the Ministry of Economy to the Ministry of Trade (“Ministry”). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette.

The Turunc Law Firm has advised Vinci Venture Capital on its equity investment in smart clothing company Thread in Motion. The Gemicioglu law firm represented Thread in Motion on the investment round, in which StartersHub and various angel investors participated. The amount of Vinci's investment was not disclosed.

Presidential Circular on Information and Communication Security Measures (“Circular”) is published in the Official Gazette of July 6, 2019. The aim of the Circular is reducing of security risks and governing measures to be taken to ensure safety of information which is critical to national security and public order.

European Union’s (“EU”) proposal for regulation on online intermediation services and search engines (“Regulation”) is expected to be published shortly on the Official Journal of the European Union and become effective twelve months following its date of publication.

“The biggest problem now in Turkey is the ongoing elections,” says Sezer & Utkaner Executive Partner Nazli Sezer, who points out that the country has been in election mode for three years now.

Paksoy has advised MIH PayU B.V., a subsidiary of Naspers Ltd., on its June 10, 2019 agreement to acquire Turkish digital payments and e-money company Iyzi Odeme ve Elektronik Para Hizmetleri Anonim Sirketi for USD 165 million. Kolcuoglu Demirkan Kocakli advised Iyzi Odeme and its shareholders on the transaction, with Orrick advising selling shareholder Vostok Emerging Finance, and Moroglu Arseven reportedly advising selling shareholder 212 Capital Partners I Cooperatief.

In accordance with Turkish Law, employee’s employment security rights are secured with reemployment lawsuit. At cases where labor contract of employee terminated unlawfully, employee can request his/her reemployment (compensation in case of not being accepted to job) and fee for the period he/she was not able to work due to unlawful termination. But even though court rules for reemployment, employee must act in accordance with time periods and conditions regulated at law. Otherwise, employee might not benefit from the earned rights even though the verdict of court regarding reemployment lawsuit is in favor of the employee. In this context, regulation regarding employee to make an application to the employer within 10 days after service of finalized court verdict of verdict to him/her; directly effects employee’s rights and it has been seen that this regulation is interpreted differently by different chambers of Supreme Courts.

1. Introduction: Despite annulment of Article 14 of the Decree No. 556 by the Turkish Constitutional Court has created a lacuna about the legal ground of the use obligation of trademarks; the proprietor always had the obligation for using its trademark in Turkish and international Trademark Law. In a nutshell a trademark that has not been genuinely used in Turkey for at least continuous 5 years, the trademark can be requested to be cancelled due to non-use of the trademark, unless there is a justification for non-use of the trademark. This article studies the justifications that can be shown for non-use of a trademark in consideration of the current case-law.

Gide has advised TEB Asset Management, a joint venture of Turk Ekonomi Bankasi and the BNP Paribas Group, on the acquisition of ING Asset Management, a subsidiary of ING Bank in Turkey. ING was assisted by Caliskan Okkan Toker.

I. Introduction: Merger, in general, is a complex procedure which requires detailed and long formalities. Simplified merger creates an option for the joint stock companies to merge in a faster way without being subject to certain transactions.

On May 30, 2019, Ministry of Justice (“Ministry”) prepared the judicial reform strategy document (“Strategy Document”) which introduces comprehensive changes and improvements to the Turkish judicial system. Recep Tayyip Erdogan, the President of Turkey announced and presented the new reforms brought by the Strategy Document to the attendees of a conference on judicial reform strategy. 

The Turkish Medicines and Medical Devices Agency (“Agency”) announced¹ the Draft Regulation on Sales, Advertising and Promotion of Medical Devices (“Draft Regulation”) on May 9, 2019. The Draft Regulation will replace the Regulation on Sales, Advertising and Promotion of Medical Devices (“Regulation”) currently in force. Through the announcement, the Agency expressed that the Regulation requires an amendment as a result of practical matters presented during the implementation of the Regulation and the current needs of the sector. The Agency has invited suggestions and comments from concerned parties until close of business on June 9, 2019, by post or through the Agency’s official e-mail address.

Basak Gurbuz is a Counsel at The Walt Disney Company Turkey, where she oversees the company’s legal and compliance matters. Prior to assuming her current in-house role, she was a Managing Associate with Gun + Partners. Her experience also includes time with Pekin & Bayar, the Yazici Law Firm, the Kasaroglu Law Firm, and Bayindir Holding.

Bahar Yenerer is the General Counsel of Atos in Turkey. Prior to joining Atos in 2012 she spent two years as a Senior Lawyer with ELIG. Prior to that she was a Senior Legal Counsel with Turkcell, Head of M&A and Corporate Affairs with the Yamaner & Yamaner Law Office, a Lawyer with Tekin Law Office, and a Legal Consultant with the Serap Zuvin Law Offices.

Introduction: As one of the top twenty energy consumers worldwide, Turkey experienced rapid economic growth beginning in the early 2000s, and its energy requirements increased accordingly. The demand for energy in Turkey has been growing at an average rate of 6.5% over the past decade and official reports predict that the country will continue at this pace through 2020. The high demand for energy, liberal market conditions, and government incentives are attracting both domestic and foreign investors to the Turkish renewable energy market.

Baseak has advised Taxim Capital on Besifarma Ilac A.S. on an undefined investment in Alke Saglik Urunleri Sanayi ve Ticaret A.S.

Turkish lawyer Ceren Kartari has become Associate General Counsel at Facebook, working in London.